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Crypto market gets boost from U.S.–China trade agreement
Bitcoin (BTC), the world’s largest cryptocurrency, surged past $105,000 this week, marking its strongest rally in weeks and igniting speculation of a return to its all-time high (ATH).
The sudden price spike followed news of a breakthrough U.S.–China trade deal, which sent bullish ripples across global financial markets.
The deal, which includes a 90-day mutual tariff relief, has improved market sentiment, reducing tensions between the two largest global economies. As a result, BTC briefly reached a high of $105,705 before settling to $104,397 at the time of writing.
Key Takeaways
- Bitcoin hit $105,705 after U.S. and China agreed to a 90-day tariff reduction deal.
- Market activity surged, with bullish pressure seen in both spot and futures.
- BTC and altcoins rally amid easing global tensions.
- Analysts suggest potential retest of BTC’s all-time high if momentum continues
Market Reaction and On-Chain Signals
The tariff reduction agreement will see the U.S. lower import duties on Chinese goods from 145% to 30%, while China will slash its tariffs on American products from 125% to 10%. This move triggered a broad rally in risk-on assets, with BTC leading the crypto market rebound.
According to analyst Michael van de Poppe, this geopolitical shift could serve as a key trigger for Bitcoin’s next major leg upward.
Futures market data reflected the shift in sentiment, with Bitcoin’s Long/Short Ratio rising to 1.07, indicating more traders are betting on further price increases. The strong rally also aligns with BTC’s alignment to macroeconomic drivers, suggesting institutional money could be reinforcing current momentum.
BTC Long/Short Ratio Chart. Source: Coinglass
While Bitcoin leads the charge, altcoins have also mounted a strong comeback, raising hopes for a sustained altseason. The total altcoin market cap has surpassed $250 billion, and analysts suggest a breakout to $315 billion could signal the end of a -61% correction—a sign of strengthening market resilience.
Ethereum has spearheaded the rally with a 40% weekly gain, bringing renewed interest to DeFi and layer-1 tokens. Some analysts, however, like Willy Woo, caution that Bitcoin dominance could exceed 90%, tempering altcoin expectations.
Looking Ahead
While BTC has cooled slightly from its peak, bullish sentiment remains strong. If macroeconomic stability persists and buying pressure continues, analysts believe Bitcoin could be preparing to retest or surpass its ATH. Traders will be closely watching resistance levels and broader market cues in the days ahead.
Recently we wrote that Bitcoin price rally stalls near wedge top after tariff deal lifts price briefly above $105K.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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